Q1 report focuses on global, regional and country-level views of the convenience channel
Chicago, IL, and Alexandria, VA – August 9, 2022 – NielsenIQ and NACS released their inaugural global convenience retailing industry report that provides industry-leading data, macro trends, and analysis across 23 countries in North America, Europe, and Asia-Pacific regions.
Highlights of this report include:
- Thirteen countries experienced growth in convenience store sales during the first quarter of 2022 versus the first quarter of 2021, while 10 countries experienced sales declines.
- Nine of the 13 growth countries were from the Asia-Pacific region, while European countries accounted for 8 of the 10 countries with sales declines.
- U.S. convenience stores, which sell an estimated 80% of the fuel purchased in the country, saw revenues per store per month increase 32% in Q1 2022 versus the same time period in 2021, largely a result of higher gas prices.
- Canadian convenience store dollar sales underperformed versus other retail channels (-0.8% vs. +2.1%).
- The U.K. fuel and forecourt industry continues to thrive, with sales (excluding fuel) expected to rise to £47.1 billion by 2024; sales now account for over one in five pounds spent on grocery items.
- In China, the three most significant convenience development trends are digitalization, food service, and e-commerce.
“With more than 1 million convenience stores globally, it is critical that convenience retailers and manufacturers who serve this industry are prepared for the future. This report uncovers the issues, opportunities, and challenges that exist globally, and contributes to a global understanding of trends impacting individual trade areas,” said NACS President and CEO Henry Armour.
“The last two years have seen unprecedented disruptions across the global retail and consumer products industries,” said David Johnson, President, Global Retail for NielsenIQ. “With ongoing supply-chain issues, inflation, and shifting consumer behavior, robust data, analytics, and insights are critical to understanding the convenience channel market dynamics. Convenience retailers and brands must continue to adapt and intensify their focus on customer loyalty, digital transformation, supply-chain management, and collaboration to effectively meet the challenges the industry faces.”
The full report can be downloaded by clicking here.
NielsenIQ, a global information services company, delivers the gold standard in consumer and retail measurement, through the most connected, complete, and actionable understanding of the evolving global, omnichannel consumer. NielsenIQ is the source of confidence for the industries we serve and the pioneer defining the next century of consumer and retail measurement. Our data, connected insights, and predictive analytics optimize the performance of CPG and retail companies, bringing them closer to the communities they serve and helping to power their growth.
NielsenIQ, an Advent International portfolio company, has operations in 90+ markets, covering more than 90% of the world’s population. For more information, visit NielsenIQ.com.
The leading global trade association dedicated to advancing convenience and fuel retailing, NACS advances the role of convenience stores as positive economic, social and philanthropic contributors to the communities they serve and is a trusted adviser to retailer and supplier members from more than 50 countries. The U.S. convenience store industry, with more than 148,000 stores nationwide selling fuel, food and merchandise, conducts 160 million transactions daily and had sales of $705.7 billion in 2021. For more information, visit convenience.org. Follow NACS on LinkedIn, Twitter, Facebook and Instagram.